Somewhere in my house in the mountains, I have a radio cassette recorder.
Remember those? I think it's a Sharp or a National Panasonic, I can't be sure. I got it for Christmas when I was 15. At the time, we are talking 30 years ago now, it was considered a very cool piece of kit, not least because it could go to any track on a cassette by detecting the bare patch on the ribbon that was the space between songs. The applause on live albums made this process a bit tricky but it was a shortcoming I could live with.
Elsewhere in the same house is an even older piece of equipment: what used to be called a music centre. It was not as sophisticated as a hi-fi stack system but my father really wasn't that into his music and, if memory serves, he only bought it because the shelving system in his London apartment had a dedicated space for an audio system. And so we went, as was his habit whenever a serious purchase had to be made, to Harrods where, among the pianos and TVs in handsome veneer cabinets, he picked out a Sanyo with a turntable, a flatbed cassette player and a tuner that ran along the front of the unit.
Both machines, with a combined age of 64, still work, which is less than can be said for my Philips mini-system, which has given up the ghost after only three years of service. Its predecessor, an LG with a catastrophic three-CD changer, lasted a little under two years, while the hi-fi before that, a Sony bought in 1992, was with us for 12 years. On reflection, its passing represented something of a watershed in terms of build quality.
The debris really begins to accumulate when one moves to the audio-visual department in the Karam household. Can it be that we have three DVD players? The most recent upgrade, bought on Sunday, was necessary, according to my son, because the new TV we bought for the World Cup is best suited to a DVD player with something called an HDMI lead. If I insisted on using the old one, he told me, I would have to unplug the cable receiver every time I wanted to watch a movie.
The list goes on. I have had three digital cameras and yet, when I used film, I had the same Canon SLR for more than a decade. I change my mobile phone every year; there is a drawer dedicated to the last tired old models. Even the landline "handy" is replaced with annoying frequency. I remember being genuinely shocked when in the early 1980s I would watch TV footage of the Japanese getting rid of their garbage in skips overflowing with TV monitors and hi-fi separates. Now I am wondering what to do with our pile of broken electronics that includes two hi-fi systems, an old "fat" TV without a remote control (useless), a computer monitor, a 15-year-old laptop with 15 megabytes of memory (also useless), half a dozen mobiles and a perfectly good but still useless flatbed scanner for which I can't download or even find the driver.
I know it's a sign of a curmudgeon to bemoan the fact that nothing is built to last anymore and, yes, I know digital technology has made things much cheaper but what worries me is what happens to all the waste. It's enough of a worry in countries where waste disposal is governed by strict laws and scrutinised by anxious non-governmental organisations, but in Lebanon, a country where the environment minister thinks unregulated quarrying is good for the economy, such concerns are not a priority.
The Lebanese are lovely people who, by the way, maintain immaculate homes but they will be the first to admit that many parts of the country have been turned into ad hocrubbish dumps. Lebanon's environmental distress is apparently a throwback to the Ottoman occupation, when littering was considered a form of petty rebellion that was to be admired. Sukleen, the company contracted to clean Beirut, its suburbs and other major urban centres, has made brave attempts to encourage us to recycle. But in a country where people still see no problem with throwing empty bottles and other refuse from moving cars and where, in the historic and supposedly picturesque city of Sidon, there exists a huge hill of rubbish that no one is quite sure what to do with, we still have a lot to learn.
Sukleen assures us that it "neutralises" all waste in landfills but its mandate does not cover all Lebanon. Outside Beirut, especially in the rural areas where most of the nation's fruits and vegetables are grown, all bets are off. What happens in these regions to the lead, mercury, lithium and cadmium, as well as the toxic retardants in plastics - all of which can be found in TVs and other stuff? It really doesn't bear thinking about. Farmers in the Bekaa Valley have been muttering for years about toxic waste buried deep in the fertile soil and blaming it for increased incidents of cancer in the area.
What to do? There is a man who owns a little shop, more a shack really, near the Jaguar showroom in Sin el Fil in north Beirut, who can work wonders with a mini-soldering iron. He once repaired a remote control the Grundig agent told me was dead and charged me all of US$2.50 (Dh9.18). The back of his shop is a living museum to the evolution of audio-visual goods over the past 40 years. Maybe I will take all my electronic debris to him to do with as he pleases. I might even throw in the Sanyo music centre.
Michael Karam is a publishing and communications consultant based in Beirut
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Killing of Qassem Suleimani
Killing of Qassem Suleimani
Series information
Pakistan v Dubai
First Test, Dubai International Stadium
Sun Oct 6 to Thu Oct 11
Second Test, Zayed Stadium, Abu Dhabi
Tue Oct 16 to Sat Oct 20
Play starts at 10am each day
Teams
Pakistan
1 Mohammed Hafeez, 2 Imam-ul-Haq, 3 Azhar Ali, 4 Asad Shafiq, 5 Haris Sohail, 6 Babar Azam, 7 Sarfraz Ahmed, 8 Bilal Asif, 9 Yasir Shah, 10, Mohammed Abbas, 11 Wahab Riaz or Mir Hamza
Australia
1 Usman Khawaja, 2 Aaron Finch, 3 Shaun Marsh, 4 Mitchell Marsh, 5 Travis Head, 6 Marnus Labuschagne, 7 Tim Paine, 8 Mitchell Starc, 9 Peter Siddle, 10 Nathan Lyon, 11 Jon Holland
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
Tips for taking the metro
- set out well ahead of time
- make sure you have at least Dh15 on you Nol card, as there could be big queues for top-up machines
- enter the right cabin. The train may be too busy to move between carriages once you're on
- don't carry too much luggage and tuck it under a seat to make room for fellow passengers
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
The Rub of Time: Bellow, Nabokov, Hitchens, Travolta, Trump and Other Pieces 1986-2016
Martin Amis,
Jonathan Cape
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
THE BIO
Age: 30
Favourite book: The Power of Habit
Favourite quote: "The world is full of good people, if you cannot find one, be one"
Favourite exercise: The snatch
Favourite colour: Blue